HSL Fund plans to buy residential portfolio
The HSL Fund intends to acquire a portfolio of residential properties in four cantons worth CHF 50 million. To finance the transaction, the fund has carried out a capital increase.
The Helvetica Swiss Living Fund (HSL Fund) received 56.7 million from the capital increase. The issue was not fully subscribed, the fund had expected proceeds of up to 92 million. At a price of CHF 108.24 each, a maximum of 847,430 new units were to be issued; according to the fund management company Helvetica Property Investors, 523,725 new fund units were subscribed - both by existing and new investors.
The inflow of funds from the capital increase will be used to promptly implement the already agreed purchase of a portfolio of residential properties in the cantons of Basel-Land, Valais, St. Gallen and Fribourg worth around 50 million and to further expand the fund's existing property portfolio, Helvetica Property Investors announced. According to CEO Michael Müller, the portfolio consists of 97 apartments and over 10,000 sqm of rental space. The fund is also expanding regionally into western Switzerland and the canton of Basel-Landschaft. (ah)
